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File #: 2018-0480   
Type: Contract Status: Agenda Ready
File created: 7/23/2018 In control: Finance, Budget and Audit Committee
On agenda: 9/19/2018 Final action:
Title: AUTHORIZE the Chief Executive Officer to execute Modification No. 3 to Contract No. PS4489300, with Simpson and Simpson, CPA's for Package B of the Fiscal Years (FY) 2016-2020 to provide financial and compliance Measure M audits in the amount of $324,060 increasing the contract value from $3,897,330 to $4,221,390.
Sponsors: Finance, Budget and Audit Committee
Indexes: Access Services Inc., Audit, Contracts, Evaluation and assessment, Financial Audit, Formula Allocation / Local Return, Guidelines, Local Returns, Measure M, Measure M Admin Costs (Project), Measure R, Memorandum Of Understanding, Metrolink, Pasadena, Procurement, Program, Proposition A, Proposition C, Redondo Beach, South Bay Metro C Line Extension, Subsidies, Torrance, Transit System, Transportation Development Act - Article 4, Transportation Development Act of 1971
Attachments: 1. Attachment A - Procurement Summary, 2. Attachment B - Contract Mod Log, 3. Attachment C - DEOD Summary
Related files: 2016-0129, 2018-0271, 2018-0412, 2018-0673
Date Action ByActionResultAction DetailsMeeting DetailsAudio
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Meeting_Body
FINANCE, BUDGET AND AUDIT COMMITTEE
SEPTEMBER 19, 2018


Subject
SUBJECT: CONSOLIDATED AUDIT FOR FISCAL YEARS 2016-20

Action
ACTION: APPROVE MODIFICATION

Heading
RECOMMENDATION

Title
AUTHORIZE the Chief Executive Officer to execute Modification No. 3 to Contract No. PS4489300, with Simpson and Simpson, CPA's for Package B of the Fiscal Years (FY) 2016-2020 to provide financial and compliance Measure M audits in the amount of $324,060 increasing the contract value from $3,897,330 to $4,221,390.

Issue
ISSUE

As the Regional Transportation Planner for Los Angeles County, Metro is responsible for planning, programming and allocating transportation funding to Los Angeles County jurisdictions, transit operators and other transportation programs. Metro has fiduciary responsibility to help ensure jurisdictions, operators, and program administrators receiving funds for transportation related projects are in compliance with the applicable statutes, rules, regulations, policies, guidelines and Memorandum of Understanding (MOU) agreements.

Measure M, approved by voters in November 2016, is a half cent transportation sales tax for Los Angeles County. The Measure M Ordinance specifies that 17 percent (17%) of revenues shall be allocated to jurisdictions. Metro allocates and distributes Local Return funds monthly to jurisdictions on a per capita basis and in conformance with the Measure M Ordinance and Metro's adopted policies and guidelines. The Measure M Ordinance specifies that Local Return funds are to be used for transportation purposes only and that annual audits be conducted within six months after the end of the fiscal year being audited. Metro began distributing funds to the 88 cities and the County of Los Angeles in September 2017; therefore, the first audit will be for Fiscal Year (FY) 2018.

Background
BACKGROUND

In March 2016, Metro awarded a firm fixed unit price Contract No. PS4489300, with Simpson and Simpson, CPA's for Packag...

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